Demand for Flexible IT Services Encouraging Developments in the Global Custom Application Development Services Market: Technavio Report


London, 21 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Custom Application Development Services Market 2014-2018, which is expected to grow at a CAGR of 5.18 percent during 2013-2018.

Custom applications are applications that are tailor made to suit the specific business purposes of an organization. Custom application development services cover the entire span of the application development life cycle including design, development, and testing of custom applications. Organizations are increasingly demanding custom application development services to optimize their business operations and gain an edge over the competition.

"Changes in work locations, time-zone barriers, and the need to access official and confidential data via personal devices through apps are driving the growth of the Global Custom Application Development Services market," says Faisal Ghaus, Vice President of TechNavio.

Key Market Drivers

  • Need for Enhanced Business Productivity
  • Need to Improve Customer Interaction and Service
  • Increased Focus on Real-time Decision Making
  • Reduction in Infrastructure Management Costs

Key Market Trends

  • Increased Demand for Cloud-based Application Development Services
  • Increased Demand for Mobile Application Development Services
  • Outsourcing Custom Application Development Services

Key Market Vendors

  • Accenture plc
  • IBM Corp.
  • Infosys Ltd.
  • TCS Ltd.

To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.

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